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Reliance Industries has agreed to purchase two million barrels of Canadian heavy crude per month, three industry sources said, as a substitute for dwindling Venezuelan supply. The deal, large for Canada, shows how global buyers are scrambling for new sources of heavy oil. Venezuela’s production has collapsed over the last several years, and US sanctions have squeezed its ability to sell oil to international buyers, including Reliance Industries. The refiner, which operates the largest refining facility in the world, is among several companies winding down purchases from Venezuela as a result of US sanctions. Reliance Industries’ purchases from Canada will last for six months, two sources said, while a third said it was confirmed for at least the fourth quarter. With “Venezuela’s collapse in production, (demand) needs to be met by someone”, said a Canadian industry source, who was not authorized to speak publicly. Bloomberg first reported the sale.

Domestic share markets soared more than 2 per cent on Friday, bouncing back from their longest losing streak since February. The S&P BSE Sensex index rose 803.37 points – or 2.20 per cent – to 37,356.97 at the strongest level of the day, and the broader NSE Nifty 50 benchmark climbed to as high as 11,039.50, up 233.95 points – or 2.17 per cent – from its previous close. Strong buying interest in IT stocks pushed the markets higher, however selling pressure in financial counters after the government extended the suspension of bankruptcy filings capped the upside. The Sensex ended 786.84 points – or 2.15 per cent – higher at 37,340.44 and the Nifty settled at 11,050.25, up 244.70  points – or 2.26 per cent – from its previous close.  Bajaj Finserv, HCL Tech, Cipla, Bharti Airtel, IndusInd Bank and Larsen & Toubro, closing between 4.44 per cent and 6.60 per cent higher, led gains in the Nifty basket of 50 shares. On the other hand, UPL, Bharat Petroleum and SBI Life, ending 1.11 p

Equity benchmark Sensex plunged over 600 points in early trade on Thursday, tracking massive sell-off in global stocks amid heavy foreign fund outflow. After sinking 609.63 points, the 30-share index was trading 571.26 points or 1.52 per cent lower at 37,097.16, and the NSE Nifty cracked 169.40 points or 1.52 per cent to 10,962.45. All Sensex components were in the red with M&M, Bajaj Finance, IndusInd Bank, Maruti, Axis Bank, Bajaj Finserv and ICICI Bank shedding up to 3 per cent. In the previous session, Sensex settled 65.66 points or 0.17 per cent lower at 37,668.42, while Nifty shed 21.80 points or 0.20 per cent to close at 11,131.85. Exchange data showed that foreign institutional investors sold equities worth Rs 3,912.44 crore on a net basis on Wednesday. According to traders, heavy sell-off in US equities in overnight session, negative cues from Asian peers and foreign fund outflow hit investor sentiment here. Bourses in Shanghai, Hong Kong, Tokyo and Seoul were trading with

Billionaire Mukesh Ambani-led Reliance Industries said on Wednesday that the US-based investment firm KKR will buy a 1.28 per cent stake in its retail arm, Reliance Retail Ventures, for ₹ 5,550 crore. The transaction gave Reliance Retail an equity value of ₹ 4.21 lakh crore, Reliance Industries said in a regulatory filing before market hours on Wednesday. The deal is likely to bolster oil-to-telecom conglomerate Reliance Industries’ retail presence in the domestic market. Here are 10 things to know: KKR will make its investment from its Asia private equity funds, and the transaction is subject to regulatory and other customary approvals, Reliance Industries said. This marks the second investment by KKR in a subsidiary of Reliance Industries, following a ₹ 11,367 crore investment in Jio Platforms announced earlier this year. KKR follows the US-based private equity firm Silver Lake, which agreed to take a 1.75 per cent  stake in Reliance Retail Ventures for ₹ 7,500 crore earlier this mon

Sebi chief Ajay Tyagi on Tuesday said the markets regulator is not forcing anyone to invest in small-caps and investment should always be in the interest of investors amid new portfolio allocation rules for multi-cap mutual fund schemes. He further said multi-cap mutual fund schemes should be “true to label”. The regulator, earlier this month, directed multi-cap funds to invest at least 25 per cent of their corpuses each in large-cap stocks, mid-caps and small-cap stocks. This raised concerns among the mutual fund industry and fund managers estimated that the move would result into Rs 30,000-40,000 crore moving out of large-cap to mid-cap and small-cap companies. Earlier, there was no restriction on the exposure such funds needed to make in large, mid and small-cap stocks and therefore majority of the multi-cap funds have run with a large-cap bias. “Multi-cap form should be as per their name. We are not forcing anyone to invest in these caps (small-cap, mid-cap) and investment should b

Gujarat Chief Minister Vijay Rupani on Thursday pitched for close cooperation with the US in giving impetus to startups and asserted that the rich diaspora of Gujaratis in America was a testimony of growing mutual trust between the two countries. Addressing the US-India Strategic Partnership Forum through video conferencing, Rupani said Gujarat's 'sister state' agreements with New Jersey and Delaware announced a new era of enhanced and increased collaboration between “our two countries.” He asserted that the growing investment of US industries in Gujarat and a rich diaspora of Gujaratis in the USA is a testimony of “our growing mutual trust”. “I propose formalizing the startup engagement programme and appointing a nodal officer to facilitate investment by American companies in Gujarat. We want to grow with the US together,” he said. “USA and India are one. Borders do not exist between us. The growing investment of US industries in Gujarat and a rich diaspora of Gujaratis

VA Tech Wabag, a company engaged in water treatment has been in focus as several high net worth individuals (HNIs) invested into the company. VA Tech Wabag has approved an issue of 7.5 million shares on preferential basis to 3 marquee investors and raised a total of `120 cr. Among them, veteran investor Rakesh Jhunjhunwala’s wife Rekha Jhunjhunwala invested Rs 80 crore for 50 lakh shares of the company on preferential basis. Basera Home Finance bought 15 lakh shares for Rs 24 crore and Sushma Anand Jain along with Anand Jaikumar Jain 10 lakh shares for Rs 16 crore. The transactions happened at Rs 160/share. The allotment is subject to shareholders’ approval during the company’s AGM on September 23rd. “We would like to extend a warm welcome to all the potential incoming investors, each of whom enjoy a high level of respect and credibility in the financial markets ecosystem. This is the first time the company has proposed to raise equity capital since its IPO in 2010 and we believe that

Among the various types of investments in the market today, balanced funds or hybrid funds are characterised by their diversification among two major asset classes. They’re a type of mutual fund whereinhalf the investment is directed towards equity and related instruments while the other half is invested in debt instruments.Of this, the equity portionof balanced funds is inclined towards larger, dividend-paying companies, while the debtportion stabilises the risk of the equity investments. Though they provide relatively lower returns, balanced mutual funds are beneficial for two reasons: creating an income stream and reducing market volatility. Thus, the diversification availed through a balanced mutual fund investment allows you to bridge the gap between saving vs. investing. The primary purpose of these types of mutual funds is to offer you the best of both worlds. Besides, you should invest in balanced mutual funds for the following reasons: Taxability Under balanced mutual

Mumbai: August, 2020: Axis Securities, a proud subsidiary of Axis Bank, announces the launch of Global Investing – a smart solution for Indian retail investors to add the best of US stocks to their portfolio. Axis Securities has partnered with Vested Finance, an online investment platform that enables Indian investors to invest in the US stock market. Investors can now buy/sell shares of companies like Facebook, Apple, Netflix, Google, and more; or invest in theme-based baskets or ETFs; all in just a few clicks. With easy access to a robust global market, investors can not only enjoy the benefits of geographical diversification but also secure their portfolios from a single country and single currency risk. This one of a kind solution offers professionally curated portfolios and theme based baskets of stocks and ETFs, with a completely digital on-boarding and fund transfer process, thereby ensuring that global investing #SimpleHai. Global investing enables the customers of Axis Securi

NEW DELHI, 30 July 2020: Mr Sanjay Kumar Shukla, Principal Secretary, Industrial Policy and Investment Promotion, Madhya Pradesh Government yesterday said, “The government, law enforcement agencies, industry and consumers must come together to identify the gaps and act in a coordinated way to address counterfeiting and smuggling.” Addressing a webinar ‘Combating Counterfeiting and Smuggling during the COVID-19 pandemic and beyond’ , organized by FICCI’s Committee Against Smuggling and Counterfeiting Activities Destroying the Economy (CASCADE) , Mr Shukla said that in order to eliminate this problem in India, FICCI can share international best practices and actionable points to the government on how other countries have been able to counter this problem successfully. Mr Vipin Maheshwari, Additional Director General, Special Task Force, Madhya Pradesh Police said “COVID-19 is a wakeup call for all of us. No product category has been spared, be it milk, cosmetics, clothes, footwear, seed

According to TechSci Research report, “ India Microfinance Market By Type, By Bank Type, By Non-Banks, By End-Use, By Area, By Region, Competition, Forecast & Opportunities, 2025 ” , m icrofinance market in India is anticipated to grow at a brisk CAGR of more than 40% during 2021 – 2025, predominantly on account of increasing demand for microfinance loans from the country’s MSME sector. The main objective of microfinance organizations is to provide a chance to low-salary borrowers to become self-sufficient. This sector plays an important role in promoting inclusive growth by providing credit to borrowers who fall under BPL category. This industry is also helping the women, especially from rural areas, to avail small loans at affordable rates. Microfinance market in India can be segmented based on By Type, By Bank Type, By End-Use, By Area, and By Region . Based on types, India microfinance market is segmented into banks and non-banks. In India, bank are the preferred sources for m

Authored by : Shiv Nanda, Financial Analyst One of the most stressful things in life is being hit with an unexpected financial expense that is difficult to cover. For example, your spouse is getting laid off and your kid requiring emergency hospitalization. It would be quite stressful if you don’t have money to cover the rent or medical bills. So, what do you do? Your instinct might be to borrow money from friends or family, but there are other options that you can consider. These include applying for small personal loans or payday loans. Small Personal Loans A small personal loan is an unsecured personal loan that can be used to manage an urgent but small financial need. These are usually borrowed over longer periods, which gives you more time to repay the borrowed amount. The interest on small personal loans is lower as compared to the interest on payday loans. When you apply for small loans, you may get some flexibility to choose a repayment tenure. Ideally, when you borrow a smal

Platform to help Indian companies explore new opportunities in post pandemic stay-at-home economy · Virtual exhibition will bring together nine trade fairs covering lighting, electronics, information and communications technology (ICT), medical and healthcare, house ware, fashion, home textiles and furnishings, gifts and premiums, as well as printing and packaging. · A variety of cross-industry products including a wide range of anti-pandemic smart house ware and lifestyle products that can fuel business opportunities presented by the stay-at-home economy. New Delhi, July 2020 : The COVID-19 pandemic has had a huge impact on the global business environment, with companies needing to transform their business models and leverage online platforms to sustain operations. Having organised the Summer Virtual Expo, which is currently ongoing, the Hong Kong Trade Development Council (HKTDC) is following up with a more advanced version, Summer Sourcing Weeks | Go ONLINE, which wi

The fresh capital comes from existing shareholders of JetSynthesys, part of the Navani family owned Jetline Group, led by the family offices of Adar Poonawalla and Kris Gopalakrishnan The infused capital will be utilized to ramp up marketing, global expansion, and scale technology, talent, and content, with an aim to further expand its existing 100 Mn consumer base The latest fundraise will be used to strengthen JetSynthesys’ platforms in global entertainment, gaming and interest based social communities, many of which are poised to be over INR 100 crore in revenue over the next 24 to 36 months With downloads from 180 countries currently, JetSynthesys also aims to create large global IPs and forge new strategic partnerships with category leaders in Japan, US, and Europe, thus increasing its digital stronghold even further Pune, 09 July 2020: New age digital entertainment and technology company, JetSynthesys , has announced a capital infusion of INR 300 crore to deepen its global f

A FREE of cost 2-day line of credit for Buying Stocks Generates huge Savings in Interest for Customers Ensures flexibility and efficient utilization of capital for traders and investors Generates almost 10x value for customers v/s free delivery propositions 3 rd June, 2020, Mumbai : Samco Securities Limited, one of India’s leading discount stock brokers launched a revolutionary product called BTPT or Buy Today, Pay in Two Days today for investors buying stocks.  BTPT is a facility that allows investors to buy delivery shares today by paying for only an initial margin and pay for the outstanding margin within 2 working days from the date of purchase completely FREE OF COST.   “ Currently, most brokers insist on paying 100% upfront margins when clients buy stocks for delivery in the cash markets. This is despite the fact that exchanges follow a T+2 settlement cycle where only a part of the margin (usually 20-25%) needs to be settled upfront but the balance (75-80%) can be paid on T+2 d

27 th April 2020, New Delhi : Broadband India Forum, the  leading independent Think-Tank and Policy Forum for Digital Communications in the country, today  warmly lauded the recent huge investment of USD 5.7 billion (INR 43,574 crore) by Social Media giant Facebook  through a 9.99% stake in Jio Platforms as a big positive note for the digital services sector in the country. BIF believes that the incidence of such a major investment decision coming in the midst of the gloom of the global Covid19 pandemic and its resultant economic fallout, strongly underlines the tremendous resilience, vitality and outlook of the sector for the future, despite the trying times being faced by the industry at present. BIF stated that they believe this partnership between Facebook and Jio could be especially beneficial to over 50 million micro, small and medium businesses, over 100 million farmers, about 30 million small merchants and many millions of small and medium enterprises in the informal sector a

New Delhi, April 23, 2020 : Investors Clinic, India’s one of the leading real estate consultancy company has signed a 50:50 JV with Kocreate to enter into co-working spaces. The new company Kocreat has been formed to take the JV ahead. Both the companies are bringing together a capital of INR 5O Million each for the initial phase. The innovative idea of venturing into co-working space is the brain child of Honeyy Katiyal, wherein; Investors Clinic will bring in the spaces through exclusive tie-ups with builders and Kocreate already an established player in managing state of the art premium co-working spaces will bring the operational excellence in creating and running the centres. The model with the developers is devised on the basis of partnership. The model is expected to create a stream of cash flows for the developers when the funding has gone dry in the past few quarters. On the occasion,  Founder of Investors Clinic, Honeyy Katiyal  said, “I have been watching the growth of co-w

Mumbai, April 22, 2020: Finaureus Technlogies has launched Al phaNiti (www.alphaniti.com) – an online investment advisory platform under a joint venture partnership with US based Validea. The JV aims to progressively bring Validea’s Active Equity and ETF U.S.-centric systematic models  as well as Finaureus’s own proprietory quant based strategies to Indian investors. AlphaNiti is a unique digital platform which provides the Investors the option to invest in both the US market ( dollar denominated products) as well as Indian market ( INR products). Finaureus is a Fintech company which has been built on the edifice of deep Investment domain expertise, Big Data and technology.  On the other hand, Validea is a research and investment advisory company incorporated in 2003, engaged in bringing their propricetory quant-based as well as fundamental strategies of globally acclaimed investors to the professional and retail investment communities via their tools, portfolios and research. Throu

Mr. Nish Bhatt, Founder & CEO, Millwood Kane International, an investment consulting firm “ Sovereign Gold Bond (SGB) a substitute for holding physical gold without the hassle of buying and storing it physically as the Gold bond is in paper/digital form, its purity is guaranteed as it has Government of India’s backing, selling it is easy also there is no loss like in case making/molding charges of Gold Jewelry. Capital gains on SGBs are exempted if held till maturity of 8 years, also one can start trading it these will be tradable on stock exchanges within a fortnight of the issuance/date notified by the RBI. The best thing about SGBs is the interest payment attached to it as investors stand to get 2.5% of interest on the initial investment.   India is the second-largest consumer of gold after China, India’s love for the yellow metal is a well-known fact and inelastic to a large extent as Gold is procured for gifting, planning for children’s marriage in many parts of India.   The

Zee hosted an investor call to discuss its recent investment in Sugarbox. Here are the key highlights: INR5.22b invested, but modalities yet to be disclosed Management indicated the investment of INR5.22b in Sugarbox would be modular over two to three years, comprising a mix of debt and equity, of which INR3b would be put toward capex and the remainder to meet operational requirements. Zee expect’s the investment to be margin accretive and show a healthy internal rate of return (IRR). However, what remains unknown is the additional stake it would fetch over and above the existing 80%, the specific return targets, and other nuances of the deal. Management explained that this investment would keep it ahead in terms of technology to improve Zee5’s reach. However, given that this does not provide any exclusive rights, we think a VC-/PE-driven investment could have helped save cash and still provided similar benefits. Key takeaways from management concall  ZEE’s INR5.22b in